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INTRODUCTION Bitcoin is a firstly decentralized digital currency that is created and traded freely of any government or bank. The currency is produced through a computer database and it can be altered into cash after being deposited into virtual wallets. Bitcoin is developed by â€Å"Satoshi Nakamoto † in 3 January 2009 (5 years ago ). It is as an innovative payment network and a novel kind of money. It has big demand in United States , China and many European countries. Bitcoin is a system of owing and voluntarily transferring amounts of so called Bitcoin in a manner similar to online banking without dependence on central authority to retain account balances. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system History of Bitcoin The world's first decentralized currency. 2007 Satoshi Nakamoto. The legend According to legend, Satoshi Nakamoto arose functioning on the Bitcoin concept in 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective pseudonym for more than one person. August 15, 2008: An remarkable patent application... Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application. All three individuals deny a connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept. August 18, 2008 Bitcoin.org is registered: Bitcoin.org is taking place. The domain was recorded at anonymousspeech.com, a site that allows users to secretly register domain names and presently rece... ...ce Date Close Change 2014-03-12 $631.39 0.39% 2014-03-11 $628.95 0.50% 2014-03-10 $625.83 -1.16% 2014-03-09 $633.18 2.92% 2014-03-08 $615.24 -1.69% 2014-03-07 $625.83 -4.99% 2014-03-06 $658.72 -0.46% 2014-03-05 $661.79 -0.27% Trends: 1. Increasing adoption by both on-line and customary merchants 2. Increasing speed of innovation surrounding Bitcoin 3. Increasing public adoption 4. Increasing speculation of alternative currencies Conclusion: Bitcoin is a novel concept, but it’s in the process of being understood and accepted by a growing number of consumers, merchants, and investors around the world. As this process continues the the full picture to start using bitcoins are becoming more compelling. There is also increased investment in the sector and many new finance companies are offering more professional and consumer responsive solutions for everyday use.